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Improvement in Norwegian industrial expectation as PMI edge upwards

Monday, 03 June 2013
Norwegian PMI rose risen to its highest level since last May, to 52.0 in May from 49.2 in April
The index measuring the mood among purchasing managers in the manufacturing sector, reported by Danske Bank and NIMA (Norwegian Association of Purchasing and Logistics) show that the Norwegian manufacturing sector is in improvement.
The strong figures gave a sudden drop in the Norwegian krone - against the euro from Nkr7.62 to Nkr7.58 in a short time, before strengthening somewhat again.
The index is also far higher than economists had anticipated with the DNB Markets expected the index to be at 49.5 in May.
The sub indices for orders rose from 48.2 to 52.6, the highest index value since last May with the domestic market accounting for the largest growth. However, the employment index fell moderately from 51.3 in April to 50.8 in May.
by Scancomark.com Team

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